Jordan Securities Commission Registers New securities 02/01/2012

On December 29.2011 Jordan Securities Commission (JSC) represented by its Board of Commissioners & chaired by Dr. Bassam Saket, decided to approve new securities registration for a number of companies. Provisions of Article (5) of the Securities Law No. (76) for the year 2002 stipulates that: ‘Every Issuer in the Kingdom shall submit to the Commission an application for registering securities therewith in accordance with the instructions issued by the Board’. By virtue of this Article every issuer of securities is obliged to submit to the (JSC) an application to register these securities & to have (JSC) prior approval.

The Board of Commissioners approved the following:

? Registration of the 24th issuance of Jordanian treasury bills for the year 2011 at a maturity date on June 4.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
? Registration of the 26th issuance of Jordanian treasury bills for the year 2011 at a maturity date on March 7.2012, at a value of JD (100) million & address the Securities Depository Center (SDC) to register them.
? Registration of the 27th issuance of Jordanian treasury bills for the year 2011 at a maturity date on June 8.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
? Registration of the 28th issuance of Jordanian treasury bills for the year 2011 at a maturity date on March 12.2012, at a value of JD (50) million & address the Securities Depository Center (SDC) to register them.
? Cover unsubscribed capital increase in shares of Falcon for Investments & Financial Services Company of (1.500.000) million shares, at a nominal value of JD (1) per share or (90%) of the share market price of which is higher on the Board of Commissioners approval date. Two  Strategic Partners are allotted certain amounts of shares as follows:

• Al-Zawaya Al-Arba’ah for Financial & Real Estate Investments Limited Liability Company (750.000) thousand shares.
• Jordan Masaken for Land & Industrial Development Projects Public Shareholding Company (750.000) thousand shares.
The following terms must be fulfilled:

• Dealing in these shares shall be prohibited for two years starting from the date of fulfilling issuance procedures at (JSC).
• Within (10) working days from notifying the Company of the Board of Commissioners approval decision, shares issuance procedures must be fulfilled.
• Disclose in advance of steps to implement this decision, to benefit from any issuance outcome & to adhere not to benefit from any part of the issuance outcome by financing any future dealings with Strategic Partners subscribed in the capital increase, whether directly or indirectly. 
• Submit a disclosure report including mainly the following:

1. Brief of the Company extraordinary general meeting minutes, including approving capital increase, method of covering increase, relevant Board of Directors decisions & the Company request.
2. Minister of Industry & Commerce decision to approve the extraordinary general meeting & the Company Controller letter indicating fulfilling the procedures of capital increase.
3. Clarifying the purpose of capital increase & means to benefit from the issuance outcome.
4. Declaration from the Company Board of Directors that information stated in the disclosure report is correct & accurate & that all material facts affecting shares prices & trading volumes as well, their liabilities are included in this report.

? Suspend trading as a whole of Middle East Complex for Engineering, Electronics & Heavy Industries Company until further notice.
To regulate the issuance process, its appropriateness & disclosure, the Instructions of Issuance & Registration of Securities for the year 2005 oblige the Company/the Issuer with the following:

• Publish at least twice in two local daily newspapers the data & information of the covering process, including its value & parties allotted to them to cover. The approval number & date of the Board of Commissioners decision to cover these shares must be indicated clearly as well as, the (JSC) must be notified.